4th Circ. Revives Derivative Trader Fraud Suit

Law360, New York (May 7, 2009, 12:00 AM EDT) -- A putative class action alleging derivative trader Janus Capital Group Inc. and its subsidiary Janus Capital Management LLC made misleading statements about funds they managed, causing shareholders to lose money when the alleged fraud was made public, has found new life after an appeals court overturned its dismissal.

The U.S. Court of Appeals for the Fourth Circuit on Thursday reversed and remanded the U.S. District Court for the District of Maryland's dismissal of the complaint, ruling that the plaintiffs had pled a viable claim of primary...
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